Property prices nationally up 6.5% in the year

Property prices nationally up 6.5% in the year

Residential property prices increased by 6.5% nationally in the year to December, according to the latest figures from the Central Statistics Office (CSO).

This compares with an increase of 7.2% in the year to November and an increase of 12.1% in the twelve months to December 2017.

In Dublin, residential property prices rose by 3.8% in the year to December, with house prices rising by 4.2% and apartments by 2.9%. The highest house price growth in Dublin was in Dublin City at 5.0%, while the lowest growth was in Fingal at 3.4%.

Residential property prices in Ireland excluding Dublin were 9.6% higher in the year to December with house prices up by 8.8% and apartments by 16.9%. The region outside of Dublin that saw the largest rise in property prices was the Mid-West at 18.7%, while the smallest was recorded in the Border at 4.8%.

Overall, the national index is 18.0% lower than its highest level in 2007. Dublin residential property prices are 21.4% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 22.0% lower than their May 2007 peak.

Property prices nationally have increased by 83.0% from their trough in early 2013. Dublin residential property prices have risen 94.7% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 79.5% higher than at the trough, which was in May 2013.

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